a bill of exchange is drawn for a maximum period of
Answers
Answer:
In the case of bills of exchange drawn at the certain time after sight, the time limit of thirty days shall be added to the period after sight specified in the bills of exchange.
Explanation:
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30 days
Bill of Exchange Law
In most cases, a bill of exchange is drawn by the creditor on his debtor. The drawee (the debtor) or someone acting on his behalf must accept it. It is only a draught until it is accepted.
The time limit of thirty days shall run from the date on which the holder has given notice of vis major to his endorser in the case of bills of exchange drawn at sight or at a fixed period after sight; the notice can be given even before the time for presentment expires. In the case of bills of exchange drawn at a specific time after sight, a thirty-day time limit is added to the period after sight specified in the bills of exchange.
∴ A bill of exchange is drawn for a maximum period of 30 days.
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